This compound is primarily utilized in organic synthesis, particularly in cross-coupling reactions such as the Suzuki-Miyaura reaction. It serves as a key building block for the construction of complex molecules, enabling the formation of carbon-carbon bonds. Its boronic acid group is highly reactive with aryl or vinyl halides in the presence of a palladium catalyst, making it valuable in pharmaceutical research and the development of active pharmaceutical ingredients (APIs). Additionally, it is used in material science for the synthesis of organic electronic materials, contributing to advancements in OLEDs and other optoelectronic devices. Its stability and reactivity also make it a useful intermediate in the preparation of heterocyclic compounds, which are often employed in agrochemicals and dyes.